I have business with turn over Rs.22,93,500/- and profit is Less then 8%. But overall the net Taxable profit is less then Exemption limit. I am also registred in GSTIN as Regular Dealer. Should I have to Audit my books of accounts.
I have business with turn over Rs.22,93,500/- and profit is Less then 8%. But overall the net Taxable profit is less then Exemption limit. I am also registred in GSTIN as Regular Dealer. Should I have to Audit my books of accounts.
Yes profit below 8% you must carry Tax Audit
Before taking a decision should think about which option is profitable to you
1. Offer Above 8% profit and opt 44AD
2. Tax audit
( Compare tax audit fee and tax on option 1 )
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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CAclubindia
